OREANDA-NEWS. National Reserve Bank released the 800mln rub. worth overdraft for AvtoVAZ.

It will be used to refill the current assets and realize the production program. The first credit line for the Company was launched in the volume of 1bn rub. in Dec. 2006. This cooperation is assumed to expand the number consumers of the Bank among the automotive producers. AvtoVAZ is the largest automobile producer in Russia. It covers 70% of the Russsian car market and has 42% of the sale market under control. In 2006 724th cars were produced. By 2012 the output is assumed to be raised to 1-1,2mln car/y. The 2006-net profit rose 79,4% to gain 2,5bn rub. from 1,4bn rub.